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Black & Decker Reinstating 401(k) Match

November 23, 2009
Related Topics: Retirement/Pensions, Latest News
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Black & Decker’s employees are getting a little something for the holidays: The company is reinstating its 401(k) plan match effective December 1.

The tool and accessories, hardware and home improvement products manufacturer will return the match to its prior level, which was 50 percent on the first 6 percent contributed, according to a Securities and Exchange Commission filing.

The match had been suspended in April, said Roger A. Young, vice president of investor and media relations.

Young said the reinstatement is unrelated to the November 2 announcement that Towson, Maryland-based Black & Decker plans to merge with The Stanley Works, which is based in New Britain, Connecticut

“It was always intended to be temporary,” he said of the suspension.

Filed by Judy Greenwald of Business Insurance, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.

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